Ceredex Value Advisors LLC Invests $13.72 Million in IDACORP, Inc. $IDA

Ceredex Value Advisors LLC bought a new position in shares of IDACORP, Inc. (NYSE:IDA) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 90,675 shares of the energy company’s stock, valued at approximately $13,719,000.

Several other hedge funds have also recently bought and sold shares of the business. Torren Management LLC acquired a new position in IDACORP during the fourth quarter valued at approximately $25,000. Western Wealth Management LLC acquired a new stake in shares of IDACORP in the first quarter worth $29,000. Caitong International Asset Management Co. Ltd increased its position in shares of IDACORP by 630.0% in the third quarter. Caitong International Asset Management Co. Ltd now owns 219 shares of the energy company’s stock worth $29,000 after acquiring an additional 189 shares in the last quarter. Trust Co. of Vermont purchased a new position in shares of IDACORP in the 2nd quarter valued at $30,000. Finally, Measured Wealth Private Client Group LLC acquired a new position in shares of IDACORP during the 3rd quarter valued at $34,000. Hedge funds and other institutional investors own 89.10% of the company’s stock.

IDACORP Price Performance

Shares of IDA stock opened at $140.27 on Friday. The firm has a fifty day moving average of $146.15 and a two-hundred day moving average of $143.42. The firm has a market cap of $8.11 billion, a P/E ratio of 23.22, a P/E/G ratio of 2.42 and a beta of 0.48. IDACORP, Inc. has a 1-year low of $122.30 and a 1-year high of $154.91. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.99 and a quick ratio of 0.75.

IDACORP (NYSE:IDA) last issued its earnings results on Thursday, July 30th. The energy company reported $1.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.78 by $0.01. IDACORP had a net margin of 18.78% and a return on equity of 9.34%. The business had revenue of $469.80 million for the quarter, compared to analyst estimates of $511.87 million. During the same quarter in the prior year, the business posted $1.76 EPS. IDACORP has set its FY 2026 guidance at 6.300-6.450 EPS. As a group, research analysts anticipate that IDACORP, Inc. will post 6.39 earnings per share for the current fiscal year.

IDACORP Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 31st. Investors of record on Wednesday, August 5th will be issued a $0.88 dividend. This represents a $3.52 annualized dividend and a yield of 2.5%. The ex-dividend date of this dividend is Wednesday, August 5th. IDACORP’s payout ratio is currently 58.28%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Wells Fargo & Company increased their price target on IDACORP from $154.00 to $155.00 and gave the company an “equal weight” rating in a report on Friday, July 31st. BTIG Research reaffirmed a “buy” rating and issued a $160.00 target price on shares of IDACORP in a research report on Thursday, July 23rd. Weiss Ratings reiterated a “buy (b)” rating on shares of IDACORP in a report on Monday, August 3rd. Wall Street Zen upgraded shares of IDACORP from a “sell” rating to a “hold” rating in a research note on Sunday, August 2nd. Finally, Barclays decreased their target price on shares of IDACORP from $167.00 to $162.00 and set an “overweight” rating for the company in a research note on Monday, August 3rd. Six analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $154.57.

Insider Transactions at IDACORP

In other IDACORP news, VP James Bo D. Hanchey sold 1,500 shares of the company’s stock in a transaction that occurred on Friday, May 29th. The stock was sold at an average price of $140.95, for a total transaction of $211,425.00. Following the sale, the vice president owned 2,138 shares in the company, valued at $301,351.10. This represents a 41.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 0.33% of the stock is owned by insiders.

About IDACORP

IDACORP, Inc is a diversified energy holding company headquartered in Boise, Idaho, whose primary subsidiary, Idaho Power Company, operates as a regulated electric utility. Through Idaho Power, the company provides generation, transmission and distribution services to residential, commercial and industrial customers. The company’s service territory spans southern Idaho and eastern Oregon, where it serves over half a million customers with a mix of hydroelectric, natural gas, wind and solar generation assets.

Idaho Power’s generation portfolio is anchored by a network of hydroelectric facilities along the Snake River system, complemented by natural-gas-fired plants and growing investments in renewable resources.